How the fortunes of Covid-19 billionaires are fading
Fortunes can be fleeting in a market so wild that some stocks have had days with fluctuations of more than 20%
24 February 2021 - 11:00
Seoul — In the healthcare industry, the coronavirus pandemic led to big fortunes, fast. Now some of them are evaporating just as quickly.
Take Seegene, a maker of Covid-19 test kits, and Alteogen, a biotech with subcutaneous-injection technology. Their founders became billionaires as the shares surged in 2020. Fast forward a few months to the vaccine rollout, and they’ve lost their title after both stocks sank more than 41%, according to the Bloomberg Billionaires Index...
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